Applying function with multiple arguments to create a new pandas column

Alternatively, you can use numpy underlying function:

>>> import numpy as np
>>> df = pd.DataFrame({"A": [10,20,30], "B": [20, 30, 10]})
>>> df['new_column'] = np.multiply(df['A'], df['B'])
>>> df
    A   B  new_column
0  10  20         200
1  20  30         600
2  30  10         300

or vectorize arbitrary function in general case:

>>> def fx(x, y):
...     return x*y
...
>>> df['new_column'] = np.vectorize(fx)(df['A'], df['B'])
>>> df
    A   B  new_column
0  10  20         200
1  20  30         600
2  30  10         300

You can go with @greenAfrican example, if it's possible for you to rewrite your function. But if you don't want to rewrite your function, you can wrap it into anonymous function inside apply, like this:

>>> def fxy(x, y):
...     return x * y

>>> df['newcolumn'] = df.apply(lambda x: fxy(x['A'], x['B']), axis=1)
>>> df
    A   B  newcolumn
0  10  20        200
1  20  30        600
2  30  10        300